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Special City Council Meeting <br />February 13, 2001 <br />Page 11 <br />not bring people or buyers in. Mr. Brannon pointed out that there is a lot of <br />land around Paris that could be sold or purchased at a much cheaper price. <br />Mr. Brannon advised the City Council that the land that is around Lake <br />Crook is not ideally suited for development. It is poor, it is not good land for <br />development because if you come and look at the maps that he has <br />developed, it is broken into about sixteen triangles and any developer will <br />tell you that a triangle is death. It is a bad layout, poor efficiency, it does not <br />generate a lot of lots. He said he did a preliminary development plan for <br />Lake Crook on the north side of the lake, which is 525 acres. He divided it <br />into one acre lots roughly with a set-back from the lake with a minimum of <br />150 feet for dwelling and 60 feet wide streets. Mr. Brannon advised that he <br />was able to get 230 lots out of that acreage at a cost of approximately 8.5 <br />million dollars development cost, and the math works outs to be something <br />like $36,000.00 per lot for development cost. He said conventional wisdom, <br />if you are in business, says you double that cost of your development, and <br />that is your asking price for you lot. Mr. Brannon said you are starting with <br />an asking price of $72,000.00 per lot and you have not included the land <br />cost. He said the numbers get pretty bad. Mr. Brannon said Mr. Malone <br />asked him to check into the cost of running the sewer line to the sewer <br />plant, and the feasability is going to take care of itself. Mr. Brannon said <br />that is why he was asked to look at that. He said there were some questions <br />on position papers that the Chamber of Commerce has raised and he wants <br />to look at that, but he believes that every point that is in the Chamber of <br />Commerce's position paper is about things that they would like to see <br />questioned, or questions that they would like to see answers for. Mr. <br />Brannon said they will do the feasability and the numbers and include it in <br />their report. Mr. Brannon said that he told the staff today that it is his <br />opinion that there is way too much land to develop as a formal park because <br />the city does not have enough city staff to maintain a formal park, so that <br />means that some of the land has to be left in the natural state. Mr. Brannon <br />said if the city had a thousand acres to develop, the absorption rate in Paris, <br />Texas, is going to be 20 years. He stated that he would have to get the <br />numbers and verify this with the real estate people here. <br />Mr. Brannon said the other plan is for a trail system. He said it appears to <br />him that if the city was to do a trail on the northwest side of the lake, it <br />would be 4.5 miles long. If you did a trail on the south side of the lake <br />running about the Maxey Rifle Club all the way to near the dam where the <br />recreations are already, it is almost 3 miles, so you would have about 7.5 <br />miles of trail there that could be developed. Mr. Brannon said if you do a <br />